Ina Opperman
Business Journalist
3 minute read
12 Aug 2021
5:29 pm

Riots hurt business confidence less than Des van Rooyen becoming finance minister

Ina Opperman

The business confidence decline in July was unsurprising, but the news was not all bad, and we've even seen worse.

Business confidence did not decrease as much as expected due to the looting of shops in July 2021. Picture: Neil McCartney

Business confidence took an unsurprising dive in July after rioting and looting in KwaZulu-Natal and Gauteng left shopping centres, shops, warehouses and factories stripped and burned. The good news is that it was still not as bad as when finance ministers were switched over a weekend in December 2015. According to the South African Chamber of Commerce and Industry (SACCI) Business Confidence Index (BCI) for July 2021, business confidence dipped slightly in June 2021 by 0.8 index points to 96.2 and declined further by 3.0 index points to 93.2 in July 2021. However, the decline of three index points in...